--/1Question 13View PoliciesCurrent Attempt in ProgressA company purchases 15000 pounds of materials. Thematerials price variance is $9000 favorable. What is thedifference between the standard and actual price paid forthe materials?O $0.60O $1.67O $9.00O $1.00hp12f10fg144f8f716154+

Given:Actual Materials purchased = 15,000 poundsMaterial Price Variance = $9000 FavourableMaterial…

Answered: --/1 Question 13 View Policies Current…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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QUESTION 1 Trinity product Limited makes and sells three types of electronic security systems for which the following information is available Standard cost and selling price per unit Day Scan Night scan Omni scan GH¢ GH¢ GH¢ Material 70 110 155 Manufacturing labour 40 55 70 Installation labour 24 32 44 Variable overheads 16 20 28 Selling price 250 320 460 Fixed cost for the period are GH¢450,000 and installation labour, which is highly skilled is available for 25,000 hours only in a period and is paid GH¢8 per hour. Both manufacturing and installation labour are variable cost. The maximum demand for the period is: Day scan 2,000 units; Night scan 3,000 units; Omni scan 1,800 units. Required a) Calculate the shortfall (if any) in hours of installation labour. b) Determine the best production plan assuming the company wishes to maximize profit. c) calculate the maximum profit that could be achieved from the plan in part (b) above d) Having carried out an investigation of the…
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Multiple Choice$80,830$72,167$38,970$46,090

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